Fed Raises Rates by Quarter Point; Chairman Warsh Says Inflation Still Too High
The Federal Reserve announced a quarter-percentage-point increase to its benchmark interest rate, with Chairman Warsh saying inflation remains elevated, according to CNBC.
The Federal Reserve raised its benchmark interest rate by a quarter percentage point, according to a report by CNBC published Wednesday.
The report, part of CNBC's live coverage of the Fed's policy meeting, cited Federal Reserve Chairman Warsh as saying that inflation remains too high, though the outlet did not provide further detail on his remarks or the specific data behind the assessment.
CNBC's coverage did not specify the resulting target range for the benchmark rate, the vote count among Fed officials, or additional context such as the committee's economic projections or forward guidance. The report also did not include direct quotations from Warsh beyond the characterization that inflation remains elevated.
This article is based on limited details available in the original CNBC report. Further information regarding the rate decision and Warsh's full remarks was not included in the source material.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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